Scott commends PF


The Government has handled the current Kwacha instability with maturity otherwise it could have been worse, former acting President Dr. Guy Scott has said.

Speaking in Parliament on Wednesday, Dr. Scott explained that any precipitate action including the re-introduction of foreign exchange controls would have worsened the situation.

The measured action by Government, he said, had helped stem the situation to make it a little better than might have been in view of the pressing economic circumstances that the country was confronting.

He explained that collective institutional memory was important for continuity, planning and development and it was for this reason that Government did not rush in with drastic measures to shore and support the Kwacha.

Dr. Scott also decried the absence of secondary industries to process primary products such as copper into finished products, citing the case of solar panels which he said used a lot of copper that was first exported to China where it was processed before being imported into Zambia as finished panels. Zambia he said would benefit by adding value to copper through industry.

The drive towards diversification, he said should be accompanied with practical steps that would provide incentives and a conducive environment to investors and business men.

There was no point to invite investment and then fail to provide requisite facilities to support business and industry.

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